FORTIS GLOBAL HEALTHCARE TO INVEST A$100 MLN IN AUSTRALIA'S DENTAL CORP

KUALA LUMPUR, Dec 24 (Bernama) -- Fortis Global Healthcare Holdings Pte Ltd,
a company owned by Malvinder Mohan Singh and Shivinder Mohan Singh, who are
among the top twenty richest Indians in the world, has agreed to a A$100 million
strategic investment in Dental Corp, Australia and New Zealand's largest
operator of dental practices.

Fortis' latest acquisition, the second in two months, marks an important
step in achieving the Singh family's vision of creating a premier global
healthcare group outside India.

In November, Fortis Global Healthcare completed the acquisition of Hong Kong
based Quality Healthcare.

"Dental Corporation is a premier dental care brand in Australia and in an
industry which is highly fragmented and individualistic," said Malvinder Mohan
Singh, executive chairman of Fortis Global Healthcare in a statement here
Friday.

He said their model of business partnership with principal dentists is a
significant point of differentiation driving the success of the business and its
rapid growth, while being the most effective way to manage high performing
professionals.

"We believe there are tremendous opportunities for Dental Corporation's
expansion, both in Australia and beyond, and we will support the company's
management and professionals in realising such growth," he added.

Mark Evans, Executive Chairman and co-founder of Dental Corp, said:
"The investment by Fortis is a fantastic outcome for our business and follows an
extensive process to introduce the best strategic partner with the vision and
financial strength to assist us to deliver our long term growth plans."

He said the Fortis investment will allow them to continue to expand in
Australia and New Zealand and should present opportunities in Asia through the
Fortis network.

Dental Corporation's revenue has grown more than fourfold from
A$40.3 million in 2008 to A$182.6 million in 2010, despite the global financial
crisis.

It now owns 135 practices located across Australia and New Zealand.
-- BERNAMA


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